Montreal-based Desjardins Investments Inc., manager of the Desjardins Funds, announced a new name and investment objective for Desjardins Environment Fund on Thursday.
The fund’s new objective reads: “The objective of this fund is to provide a long-term capital appreciation by investing primarily in equity and equity-related securities of companies located everywhere in the world, including emerging markets. The fund follows the responsible approach to investing by emphasizing environmental factors.”
The new objective was approved by unitholders at a meeting on May 27. The change is expected to take effect on June 8, Desjardins says, after which the fund will be renamed Desjardins SocieTerra Environment Fund.
Desjardins Global Asset Management Inc. will be responsible for managing the fund’s securities portfolio.
The fund was created in 1990 and was the first responsible investment mutual fund in Quebec and the second in Canada, Desjardins says.